New Age Alpha Advisors LLC Buys New Shares in ITT Inc. (NYSE:ITT)

New Age Alpha Advisors LLC purchased a new stake in shares of ITT Inc. (NYSE:ITT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,954 shares of the conglomerate’s stock, valued at approximately $2,565,000.

A number of other hedge funds have also recently bought and sold shares of ITT. Norges Bank acquired a new stake in shares of ITT in the 4th quarter valued at approximately $134,433,000. Mitsubishi UFJ Trust & Banking Corp raised its position in ITT by 18.7% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,465 shares of the conglomerate’s stock worth $5,067,000 after acquiring an additional 5,594 shares in the last quarter. Segall Bryant & Hamill LLC lifted its stake in ITT by 3.4% in the fourth quarter. Segall Bryant & Hamill LLC now owns 199,002 shares of the conglomerate’s stock valued at $28,433,000 after acquiring an additional 6,517 shares during the last quarter. LPL Financial LLC grew its position in shares of ITT by 3.1% in the 4th quarter. LPL Financial LLC now owns 43,192 shares of the conglomerate’s stock valued at $6,171,000 after acquiring an additional 1,316 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of ITT during the 4th quarter worth about $2,386,000. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Performance

Shares of NYSE ITT opened at $128.56 on Friday. ITT Inc. has a one year low of $121.01 and a one year high of $161.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The firm has a market cap of $10.46 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 1.89 and a beta of 1.42. The stock’s fifty day moving average price is $142.63 and its two-hundred day moving average price is $146.01.

ITT (NYSE:ITT) last released its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, beating the consensus estimate of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. On average, equities analysts forecast that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be paid a $0.351 dividend. This is a boost from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, March 6th. ITT’s payout ratio is 22.22%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ITT shares. KeyCorp raised their target price on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Stifel Nicolaus cut their price objective on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Citigroup decreased their target price on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Wolfe Research assumed coverage on ITT in a report on Wednesday, December 11th. They set a “peer perform” rating for the company. Finally, UBS Group upped their price objective on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $170.29.

ITT Profile

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.